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Mercedes

Mercedes Project Summary*

The Mercedes property, Southeastern Sonora, Mexico, located 250 kilometres east-southeast along Federal Highway 16 from the state capital, Hermosillo. The property is accessible year round though seasonal high rainfall may affect some access trails. The main prospect area is less than 500m from a gated highway turnoff. The Property is comprised of 3 contiguous claim blocks, totalling 360.8 hectares.

Mercedes is an early stage exploration property prospective for high sulphidation epithermal style gold-silver mineralization. Previous operators conducted two programs of drilling on a mineralized ridge "La Lamosa" and encountered low-grade gold mineralization returning intervals include 144m averaging 0.49g/t gold and 12.4g/t silver from surface (08MER001) and 57m averaging 1.15g/t gold and 13.5g/t silver from surface (08MER003). No resources or reserves exist on the property.

Geology

The property is located within the Sierra Madre Occidental province, a historically productive, regionally extensive Tertiary volcanic field which stretches from the United States /Mexico border to central Mexico. Mercedes is located toward the western edge of the province and is underlain by a volcanic assemblage locally comprising andesite and dacite tuffs which have been intruded by granodiorite-monzonite quartz feldspar porphyry stocks. Outcrop in key areas of the property are strongly altered brecciated intrusives and some volcanics. Zoned assemblages of silica, phyllic, argillic and distal propylitic alteration are recognised. The main prospect area "La Lamosa" is a prominent, highly oxidized red ridge, visible from the highway. Gold and silver are target commodities sought at Mercedes and the property exhibits textures and alteration consistent with high sulphidation epithermal mineralization.

History

In addition to small workings in the southeast of the property, previous exploration work includes two phases of drilling. In 1996, Compania Minera Fernanda S.A. de C.V. completed 15 Reverse Circulation holes for 1018m and in 2008 Norma Mines S.A. de C.V. drilled 10 diamond drillholes for a total of 1133m. Both drill programs tested the La Lamosa area and returned anomalous results.

Conclusions and Recommendations

Showings on the Mercedes property display alteration and textures consistent with high sulphidation epithermal gold-silver systems and "La Lamosa" prospect represents a target amenable to drill testing. Currently the prospective zone measures just 200m long with a width of up to 30m, down dip continuity is suggested by previous drilling though drill orientations were not optimal. Further work is recommended to test the true width and down-dip continuity of this zone.